Indian benchmark indices are trading flat in highly volatile Monday afternoon sessions, pressured by a global oil shock and massive foreign institutional sell-offs. As of 1:01 p.m. local time, the BSE Sensex was trading marginally higher by 33.47 points at 74,597.39, while the Nifty 50 slipped 19.60 points to sit at 23,131.50.
The cautious midday trading follows a brutal end to the previous week that wiped out Rs 9.5 lakh crore in investor wealth on Friday alone. Market sentiment remains dictated by the escalating Iran-Israel-US conflict, pushing the India VIX volatility index to 24.3 and signaling peak investor caution.
Oil Shock and Currency Pressures
Brent crude oil prices have breached $103 per barrel, reaching a four-year high amid military escalations around the Strait of Hormuz. The surging energy costs have directly impacted the Indian Rupee, dropping it to a record low of over Rs 92 against the dollar.
Concurrently, the US Dollar Index climbed above 100, reaching a four-month high as global investors seek safe-haven assets. The broader business sector is also bracing for the upcoming United States Federal Reserve interest rate decision scheduled for March 18.
Foreign Outflows and Technical Levels
Foreign Institutional Investors continue to aggressively offload Indian equities. FIIs sold Rs 10,716 crore worth of shares on Friday, pushing total monthly outflows to Rs 56,883 crore.
Technical analysts tracking the live session indicate the Nifty 50 has entered an oversold zone. Crucial near-term support is currently placed at 22,950, with resistance levels observed around 23,500 for the remainder of the trading day.
🚨 FPI sell-off hits Indian markets
Foreign investors have pulled out ₹52,704 crore from Indian equities in the first half of March amid rising geopolitical tensions.
Key updates 👇
• Total 2026 FPI outflows reach ₹66,051 crore
• BSE Sensex closed at 74,563.92
• Nifty 50…— veera babu (@veeerayadav) March 15, 2026